494.0036  Branch offices.--

(1)  A permit is required for each branch office maintained by a licensee.

(2)  The department shall issue a permit upon receipt of a completed application in a form as prescribed by the department and payment of an initial permit fee that may not exceed $150. Branch office permits must be renewed in conjunction with the renewal of the mortgage brokerage business license. The permit shall be issued in the name of the mortgage brokerage business that maintains the branch office.